Construction & Real Estate
From The Report: Sarawak 2015
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Steady economic growth, increased industrialisation, rapid urbanisation and one of the highest foreign investment rates in the country are all contributing to fuel a strong performance in Sarawak’s construction industry. The private and public sectors are doing their part to fill up the order books and, as a result, the construction industry has nearly doubled in productivity over the five-year span of 2009-13, during which the annual value of completed projects spiked from $1.5bn to $2.4bn. The myriad of factors influencing Sarawak’s real estate market have resulted in a mixed bag for the sector, with property growth, value and transaction activity all varying widely by region. Despite the regulatory uncertainties giving property developers and purchasers pause on a national level, the real estate market looks set to continue its strong run in Sarawak, due largely to a robust investment pipeline that should help fuel demand for the foreseeable future.

This chapter contains interviews with Richard Curtis, Group Managing Director, Cahya Mata Sarawak; and Joseph Wong Kee Liong, President, Sarawak Housing and Real Estate Developers Association.

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Articles from this Chapter

Overview

Sarawak’s construction industry targets various investments
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Steady economic growth, increased industrialisation, rapid urbanisation and one of the highest foreign investment rates in the country are all contributing to fuel a strong performance in Sarawak’s construction industry, though there are signs of an impending slowdown. Both the public and private sectors are doing their part to fill up the order books – the former has committed to massive civil engineering projects to shore up the state's infrastructure, while the latter has been commissioning…

Analysis

A massive, multi-year industrial project pushes the construction sector forward in Sarawak
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Far and away the largest driver of investment and construction for both the public and private sectors in Sarawak is an industrial project called the Sarawak Renewable Energy Corridor (SCORE). Covering a vast area of over 70,000 sq km, the site is one of five economic development corridors established nationwide and is largely responsible for elevating the state to become Malaysia’s highest recipient of foreign direct investment (FDI). In 2013 foreign companies approved more than $2bn in…

Interview

OBG talks to Richard Curtis, Group Managing Director, Cahya Mata Sarawak
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Interview: Richard Curtis What are the current drivers of growth in Sarawak’s construction sector outside of the Sarawak Corridor of Renewable Energy (SCORE)? RICHARD CURTIS: The main areas of focus moving forward are potential investments in energy-intensive industry and extending involvement in infrastructure and related services within Sarawak, both in SCORE and elsewhere. While the construction sector has been heavily involved in developing the cities and areas contained within SCORE, which…

Overview

Sarawak’s projects rumble on as federal policies aim to curb real estate speculation
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The myriad factors influencing Sarawak's real estate market have resulted in a mixed bag for the sector, with property growth, value and transaction activity all varying widely by region. Historically, the construction industry has been concentrated in population centres such as Kuching, punctuated at times by rapid but tightly focused growth nodes around the boom towns catering to special projects such as Bintulu and Miri. More recently, towns serving industries that are part of the Sarawak…

Interview

OBG talks to Joseph Wong Kee Liong, President, Sarawak Housing and Real Estate Developers Association (SHEDA)
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Interview:Joseph Wong Kee Liong To what do you attribute the sustained boom in Sarawak’s property market? JOSEPH WONG KEE LIONG: From a top-down perspective, Sarawak is reaping the benefits of the vision and far-sightedness of the Sarawak government, namely in helming and guiding the Sarawak Corridor of Renewable Energy (SCORE). Sarawak is positioning itself as a viable alternative to countries vying to compete against China for costeffective and reliable energy. On November 17, 2014, the…

Analysis

Pumping the brakes: The central bank takes steps to prevent a housing bubble
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Fuelled by attractive yields and soaring property values over the last five years, Malaysia’s real estate market has drawn both foreign and local investors seeking a strong return. While growth in GDP and population are partly responsible, this organic growth does not entirely explain the price escalation seen in the residential sector over the past three years. And although the factors steering Sarawak's property market differ from those affecting Peninsular Malaysia – the chief target of…